Marketing is an ever-evolving field with new tools and strategies being used by businesses to get the upper hand in the digital space. To ensure your business remains competitive it’s important to be on top of these trends and include them as part of your marketing strategy. This article will explore the latest marketing strategies senior entrepreneurs should implement to drive their business to success.
Identify Your Customers
Before you initiate any marketing activities, it’s important to invest time and resources towards understanding your customers. The better you understand your customers, the better your messaging will be, which leads to increased engagement and revenue. Here’s a two-step process towards understanding your customers:
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Create a Buyer Persona
This is a fictional representation of your ideal customer, which should include relevant information about them such as – their income, spending power, age, wants, needs, problems, and more. A buyer persona not only provides you with in-depth knowledge about your ideal customer but also creates the bedrock for all marketing activities.
Your first step should be to actively engage with employees in your organization who interact with customers daily, such as sales representatives and customer service representatives. These employees can provide insights regarding customers’ wants, demands, and major concerns.
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Conduct Competitor Analysis
Make a list of your direct competitors and learn about how they run their social media. You can find all the paid advertisement campaigns they have conducted on Facebook and Instagram, using this tool. Additionally, sign up for their mailing list and understand the lines of messaging they are using in their communication. Based on this research, you can formulate your own messaging which can resonate with customers better and increase your market share.
Once you have a buyer persona ready, it’s time to channel your efforts towards the following marketing activities:
Design a Mobile-Friendly Website
As reported by Web FX, more than 50% of website traffic is driven by mobile phones, and this number is expected to grow further in the coming years. Additionally, customers nowadays also expect to be able to purchase products and contact customer service through their smartphones. As a business, having a mobile-friendly website is crucial for attracting a higher number of customers, making more sales, and ensuring customer retention. Hence, the need of the hour is to give your website an upgrade by following a mobile-first approach.
Leverage Social Media
There is no denying that social media platforms have become the number one medium for businesses to promote their products. As reported by Pew Research, 72% of Americans use social media. Based on your buyer persona, identify the platforms your audience uses the most, which can include a combination of Facebook, Instagram, Snapchat, TikTok, Pinterest, and more. Instead of spreading yourself too thin, hone in the select platforms and aggressively work towards creating a presence. Some tried and tested ways to grow your following include:
- Creating topical content i.e. incorporating current trends, and events with your product offerings.
- Using trending hashtags or tags depending on the platform. These increase the chances of your posts gaining higher views and engagement.
Focus on Brand Awareness
With hundreds of brands selling products in the market, you need to give your customers a reason to choose you over competitors. A great way to do this is to convey to customers how your product/service can solve a problem they have. Using your buyer persona, find key areas where customers are facing unresolved issues and position your business as the solution.
Additionally, through your competitor research, you’ll understand the messaging which resonates most with customers. Using your competitors as a base, work towards developing messaging unique to your organization that elicits a positive response from customers.
The key for senior entrepreneurs to successfully market their business lies in learning all they can about their customers and utilizing a mobile-first approach for promotional activities.
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